A power conversion device includes a converter that converts AC power to DC power, a converter controller that controls an output voltage of the converter, an inverter that converts the DC power to AC power at a variable frequency, an inverter controller that controls an output frequency of the inverter, and a current detector that detects an AC current on an input side of the converter. It is configured in such a manner that the inverter controller adjusts a slip frequency of the induction motor in response to a fluctuation of the AC current on the input side of the converter detected by the current detector. It thus becomes possible to suppress a beat current in an output current of the inverter at the occurrence of a load fluctuation as well as a power supply voltage fluctuation.